Bitcoin smack dab in the middle of its adoption curve: Fidelity analyst

Key Points

1. Fidelity's Jurrien Timmer compares Bitcoin's growth trajectory to the internet's adoption curve, indicating it is still early in the broader adoption cycle.

2. First-time BTC buyers accumulated over 140,000 BTC in two weeks, signaling renewed FOMO and boosting their total holdings by 2.86%.

3. Bitwise data shows 46 public companies added BTC to their balance sheets in Q2, bringing the total to 125 firms holding 847,000 BTC worth approximately $91 billion.

4. Crypto investment products recorded their second-largest weekly inflow of $3.7 billion, pushing total AUM to an all-time high of $211 billion, with Bitcoin-backed products accounting for $179.5 billion.

5. Volcon announced a $500 million private placement, with 95% of proceeds earmarked to acquire Bitcoin, joining the corporate Bitcoin treasury movement.